The global coated fabrics market is anticipated to reach a valuation of US$ 45.3 billion in 2023, driven by rising eCommerce platforms and online retailing. The trend is likely to open up new prospects for the market, resulting in a projected CAGR of 5.0% between 2023 and 2033, with a total valuation of around US$ 73.8 billion by 2033.
One of the primary factors driving the growth of the coated fabrics market is rising demand from various end-use industries. Demand is increasing in a range of industries, including automotive, construction, aerospace, healthcare, and industrial. Coated fabrics are widely used in the automotive industry for both interior and exterior applications like as seating, airbags, and upholstery.
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Coated fabrics are used in the construction sector for architectural membranes, roofing, and awnings. Coated fabrics are used in the healthcare business for medical gowns, protective garments, and surgical drapes. Coated fabrics’ versatility and wide range of uses in a variety of industries are boosting their demand.
In numerous industries, there is a growing preference for lightweight materials, with an emphasis on fuel efficiency, decreased emissions, and sustainability. Because of their lightweight nature and better performance features, coated fabrics are a suitable alternative to traditional materials such as leather, metal, and glass. The materials offer advantages such as increased strength, durability, weather resistance, and flexibility, making them particularly appealing in situations where weight reduction is critical.
Increasing research and development investments is another aspect that is predicted to have a big impact on market growth. Major players in the coated fabrics market are investing heavily in R&D to produce innovative products and acquire a competitive advantage. The investments will go toward the development of enhanced coatings, the exploration of novel materials, and the improvement of the overall performance of coated fabrics. Continuous R&D efforts are propelling product advances and broadening the application area of coated fabrics.
Stringent safety and quality standards, which create a considerable demand for coated fabrics, are another factor driving market expansion. Automobile, aircraft, and healthcare industries, for example, are subject to severe safety and quality rules. Coated fabrics, which provide qualities like as flame resistance, chemical resistance, and durability, play an important part in achieving these regulatory criteria. As regulations become more strict, the need for high-performance coated fabrics that meet safety standards is projected to rise.
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Key Takeaways from the Market Study
- Global coated fabrics market was valued at US$ 43.1 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.5%.
- China is expected to hold a dominant CAGR of 4.9% during the forecast period.
- By Application, the protective clothing segment is expected to constitute a CAGR of 4.9% in 2033.
- On the basis of Material Type, the polymer segment is expected to dominate the market with a CAGR of 4.8% in 2033.
- From 2023 to 2033, coated fabrics market is expected to flourish at a CAGR of 5.0%.
- By 2033, the market value of coated fabrics is expected to reach US$ 73.8 billion.
Expansion of online retailing, across the globe is a major factor that is expected to propel the growth of the coated fabrics market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the coated fabrics market are Saint Gobain S.A, Bayer AG, PPG Industries, Akzonobel N.V., Seaman, Sioen, Spradling International, 3M Company, Valspar Corporation, E.I. du Pont de Nemours and Company, BASF SE Paints, Nippon Paints, and Sherwin Williams, among others.
Recent Developments
- In 2022, Saint-Gobain Performance Plastics introduced a new line of high-performance coated fabrics with improved chemical resistance and enhanced durability, catering to demanding applications in the chemical processing and oil and gas industries.
- In the same year, Seaman Corporation expanded its coated fabrics portfolio with the introduction of a new fabric technology that provides exceptional UV resistance and weatherability, suitable for outdoor applications such as roofing and geomembranes.
- In 2021, Sioen Industries acquired Verseidag-Indutex GmbH, a leading manufacturer of coated fabrics for various sectors, including architecture, digital printing, and transportation. The acquisition aimed to strengthen Sioen’s position in the coated fabrics market and expand its product portfolio.
- In the same year, Spradling International Inc., a leading provider of coated fabrics, introduced an innovative antimicrobial coating technology for its fabrics, offering enhanced protection against bacteria and viruses.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global coated fabrics market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the coated fabrics market, the market is segmented on the basis of application (commercial tents, furniture, industrial, protective clothing, transportation, and others), by material type (polymer coated, rubber coated, and others), across seven major regions (North America, Latin America, Eastern Europe, Western Europe, Middle East & Africa (MEA), Japan, and Asia Pacific (Excluding Japan)).
The chemicals & materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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